Mayor Mantello: City of Troy Receives
A1 Rating from Moody’s
Moody’s highlights Troy’s vibrant, growing economy,
improving reserves and manageable leverage
TROY, NY (July 26) – Mayor Carmella Mantello announced today that Moody’s Investor Service gave an A1 rating for the City of Troy’s new $8 million in Public Improvement (Serial) Bonds, which are subject to reimbursement. These bonds will allow for infrastructural improvements such as drainage repairs, new sidewalks, paving and more.
Moody’s, a leading corporation in economic risk research and financial consulting, has assigned the City of Troy an A1 rating which highlights the City’s improving economy and strong financial stewardship.
The analysis provided by Moody’s specifically highlighted the City of Troy’s vibrant local economy and the additional sales tax flow. With several multi-million-dollar projects in the works and a strong campaign for a safer, cleaner Troy, the city expects an influx of customers, prospective residents and new businesses in the coming years.
“Receiving an A1 rating from Moody's is a significant achievement for our administration,” said Mayor Mantello. “It reflects strong financial management, economic stability, and commitment to fiscal responsibility. This rating not only enhances our ability to secure favorable financing for future projects but also underscores the confidence in our city's growth and prosperity. We are proud of this achievement and will continue to work diligently to ensure Troy remains a thriving and financially sound community."
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